Pulley capitalization management platform to shut down on December 8
Pulley, a platform for managing company capitalization tables, has announced it will cease operations. December 8 will be its final day of operational activity and service provision, TechCrunch reports.
Pulley also announced a partnership with its competitor Carta to transition customers. The platform will refer prospective new customers to Carta.
No reason for closure was given
The company announced the closure on its website but did not explain the reasons. TechCrunch noted that it contacted Pulley founder Yin Wu for comment, but she did not immediately respond.
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A former Pulley employee suggested online that the company was competing not so much with Carta as with spreadsheets. The publication also noted that startups can now use artificial intelligence to maintain, improve and support such tables.
Company history
Yin Wu, a serial founder and former Microsoft employee, began building Pulley in 2020. The company raised more than $50 million from investors including General Catalyst, Stripe and Founders Fund.
In a LinkedIn post, Wu thanked the team and investors. She said that Pulley’s closure marks the end of one stage, but that she and many strong members of the team do not plan to quietly leave the industry.
